The third China International Consumer Products Expo (CICPE), Asia’s largest premium consumer products expo, is being held in Hainan’s capital city of Haikou, marking the beginning of a series of trade expos planned for this year, highlighting China’s commitment to opening-up. The expo, which has a display area of 120,000 square meters, has attracted over 3,100 brands from over 60 countries and regions, including French, Italian, and other European luxury cars, yachts, watches, exquisite jewelry, high-tech gadgets from US enterprises, honey, cubilose, and healthcare products presented in the pavilions of Southeast Asian economies. Foreign exhibitors view the expo as an opportunity to increase their footprint in one of the world’s largest consumer markets. Chinese Vice Premier He Lifeng, speaking at the opening ceremony, stated that China is committed to expanding high-level opening-up and extending an olive branch to multinational companies, encouraging them to scale up investment in China and grow together with the Chinese economy. The Hainan expo is the first significant international exhibition China has held since the COVID situation eased, and will be followed by other expos, including the Canton Fair in Guangdong Province. Italy is the guest of honor at this year’s CICPE and has teamed up with the Italian luxury industry association Altagamma Foundation.
In addition to showcasing premium consumer products, the CICPE also provides a platform for businesses to exchange ideas and explore new opportunities for cooperation. This year’s event includes a series of forums and conferences covering topics such as the digital economy, cross-border e-commerce, and the development of Hainan as a free trade port.
The Chinese government has been actively promoting the development of Hainan as a free trade port, with the goal of creating a new engine for the country’s economic growth. The Hainan Free Trade Port is designed to be a hub for international trade and investment, with a focus on high-tech industries and high-end consumer goods.
The success of events like the CICPE is seen as a key driver of the Hainan Free Trade Port’s development, as it helps to attract foreign investment and promotes the growth of domestic businesses. By showcasing the latest in premium consumer products and technologies, the expo helps to demonstrate the potential of the Chinese market to businesses around the world.
Overall, the third China International Consumer Products Expo is seen as a major success, both in terms of promoting high-quality consumer products and in fostering cooperation and exchange between businesses from China and around the world. As China continues to open up its economy and embrace globalization, events like the CICPE are likely to play an increasingly important role in shaping the country’s economic future.
